The XIII International Colloquium took place at the Lisbon School of Economics & Management, Universidade de Lisboa, Portugal, on 11-13, May, 2016. The selected theme was “Post-2008 Global Dynamics & Structural Changes: Economic, Political and Eco-Societal Transitions” - Perspectives on New Economic Theory. Special sessions of the conference were dedicated to the development of a transdisciplinary conceptual framework for economic theory in the 21st century.

This meeting was organized by the University of Lisbon, the University of Brasilia, the World Academy of Art and Science, World University Consortium, the University of Brasilia and CESA/CSG.

The recent global financial and economic crisis has underscored the fact that despite significant increases in income and other “development” indicators in many parts of the world in the last fifty years, or so, the appropriate paths to development require serious rethinking. The rapid growth of the financial sector in the global economy has made economies fragile. Increases in inequality seem to be making societies more unjust and unstable. The problem of global warming continues to be major threat for the future.

The XII International Colloquium in Gainesville, last May, encouraged contributions about alternative visions of sustainable development and explored alternative economic theories that more effectively translate economic activity into sustainable models of economic security and equitable development for humanity as a whole. It examined current concepts and premises in the light of the rapid and radical changes that have transformed economic activity. It looked at the changes since the period in which most prevalent concepts were formulated to assess their relevance to the knowledge based globalized service economy emerging in the 21 century. Additionally, it examined the need for formulation of value-based trans-disciplinary science of society that effectively integrates economics with politics, law, society, culture and ecology. Special emphasis was placed on the challenges confronted by States in Transition. One direct consequence of the Gainesville conference was the constitution of an international, multi-disciplinary team committed to the formulation of human-centered, value-based, ecologically sustainable economic theory. The objective was to identify critical gaps and missing elements in current theory to develop an inclusive, transdisciplinary integrated framework drawing upon and synthezing the wide range of original work being done by individuals and groups around the world. The Lisbon conference provided an opportunity for a wide range of social scientists to make contributions to formulation of the new framework.

The XIII Colloquium discussed the current international situation, with systemic stresses taking place everywhere, Europe in particular. This context leads us to believe that 2016 may well be a year when (after the Paris meeting) socioeconomic and political transformations will be initiated. The power of international finance and of its associated dominant theoretical apparatus has been instrumental and leading to structural changes worldwide. In addition, the mistaken orientation of general policies of economic management is having a perverse impact on growth and distribution as well as on stability. Although the international crisis starting in 2007 managed to generate some skepticism among decisions makers, politicians and international organizations, the disturbances it created were apparently not powerful enough to inspire another shared vision of positive paradigm change. The meeting stimulated thought and action on a vision of a sustainable, fair and equitable way to deal with the critical tasks society is facing. We need to examine the root causes of the current challenges and opportunities so as to formulate an integrated and comprehensive strategy towards the promotion of worldwide change to well-being.

Previous International Colloquia

The successful experience of the first International Colloquium, in 1997, was on “Money, Growth, Distribution and Structural Change: Contemporaneous Analysis”, that coincided with the foundation of PhD Program in Economics at the University of Brasilia (UnB). It was an outstanding meeting with the presence of many fine scholars from Brazil and the larger world community.

The 1999 International Colloquium on “Economic Dynamics and Economic Policy” which was the result of the consolidation of efforts to stimulate and sustain a critical dialogue, continued to develop these critical themes leading to a series of colloquia that followed. These include the 2001 International Colloquium on “Structural Change, Growth and Redistribution” and the 2003 International Colloquium on “Globalization, New Technologies and Economic Relations,” both held in Brasilia, with the support of the UnB and other institutions and had the presence of scholars from various countries around the world..

Subsequent to this initial effort at UnB, the event took on its intercontinental projection with the organization of the 2005 Colloquium in Treviso, Italy. This was a joint effort of the University of Brasilia and the PRINT-PROJECT, which included several Italian universities, on the theme “Dynamic Capabilities between Firm Organization and Systems of Production.” A selection of papers from this Colloquium were later published by Routledge International Publishers in January 2008. The VI International Colloquium was organized in 2007, once again by the University of Brasilia. The theme was “Macrodynamic Capability and Economic Development”. The emphasis of the colloquium was on socioeconomic policies towards growth and distribution, dubbed in the literature as “Development with a Human Face”. In 2010 the VII International Colloquium was successfully organized under the theme of “Getting out of the Current Economic Crisis: In the Light of Alternative Development Paradigms” by CEPN of the University of Paris 13 and the Department of Economics of the University of Brasilia. It took place at the Maison des Sciences de l’Homme, at the University of Paris Nord and attracted worldwide attention.

The VIII International Colloquium, held in Ireland in May 2011, entitled “Economic Growth, Structural Change and Institutions” was organized jointly by the Department of Economics of the University of Brasilia and J. E. Cairnes School of Business and Economics of the National University of Ireland, in Galway. It attracted an excellent group of scholars and dealt with important contemporary economic policy issues.

In 2012, the IX International Colloquium took place at the Schumpeter Centre of the University of Graz, Austria, in collaboration with the University of Brasilia. The event produced contributions towards better understanding of “Inequality and its Persistence”. The main objective of the meeting was to provide a platform for productive exchanges of analysis and research results focusing on the theoretical and policy aspects of the inequality theme. The colloquium also aimed to stimulate an exchange of ideas across fields of inquiry from within the discipline of economic science, as well as in related disciplines. It reinforced a multi-disciplinary approach to the study of political economy.

In May, 2013, the X International Colloquium took place in the Instituto Superior de Economia e Gestão (ISEG - Lisbon School of Economics & Management – Universidade de Lisboa) in Lisbon, Portugal, in collaboration with the University of Brasilia (UnB). The theme was “Power Distribution in The World Economy: New Challenges”. It was concerned with new challenges of the world economy, the distribution of power between different groups in the national and global economies and throughout different countries of the world. Changes in the distribution of power have arguably had a major impact on the economic performance worldwide in recent years. The event was very successful with the presence of several fine scholars, from both academic and public sector administrators.

In May, 2014, the XI International Colloquium again took place in Brasília. It was a return to its origin after a long period abroad. The selected theme was “Global Crisis and Changes of Paradigms: Current Issues”. Growth, distribution, inflation, trade and employment, have been some of the main concerns of macroeconomic theories, yet few economists foresaw the scale of the financial and economic crisis from 2008, and few have been able to propose alternative economic paradigms to respond to it. The main objective of the Colloquium was to provide a platform for a productive exchange of ideas, theories and policies in order to identify such paradigm shifts and better inform policies for both national and global governance. The main conclusions of the meeting were that more than a single event creates a stimulating international research network focusing on effective timely contributions to shape new thinking so that humanity can escape the multiple crises that currently affects society. The event had as sponsors the University of Brasilia (UnB), the National Council for Scientific and Technological Development (CNPq), the World Academy of Art and Science (WAAS), the Rio Branco Institute (Ministry of External Relations), and the International Celso Furtado Center for Development Policies

ORGANIZING COMMITTEE

The Members of the Organizing Committee were:

António Mendonça, Lisbon School of Economics & Management - University of Lisbon, Portugal and CEsA/CSG- Research in Social Sciences and Management; (President)

Winston P. Nagan, University of Florida at Gainesville & Editor of Eruditio, USA

Garry Jacobs, CEO of WAAS & Editor of Cadmus, India

Neantro Saavedra Rivano, University of Tsukuba, Japan

Craig Hammer, World Bank, Washington-DC, USA

Emilson Silva, University of Alberta, Alberta. Canada

Chandana Chakravarti, WAAS, India*

Augusto Santos Silva, University of Porto, Porto, Portugal

Maria de lourdes Rollemberg Mollo, University of Brasilia, Brasilia, Brazil

Mark Swilling, University of South Africa, Cape Town, South Africa

SPONSORS

LISBON SCHOOL OF ECONOMICS AND MANAGEMENT - UNIVERSIDADE DE LISBOA

Throughout its existence, since 1911, ISEG – Lisbon School of Economics & Management has always sought to maintain its position at the forefront of Portuguese universities in the fields of economics and management, creating new courses while constantly updating course programmes and teaching methods. Through its research centres, it plays a dynamic role in contributing to scientific knowledge within its areas of speciality, and in applying that knowledge in a wider social context. ISEG further impacts the community around it through consultancy and other services provided to economic agencies and organisations, as well as the scientific and cultural exchanges at a national and international level play an important role in ISEG's activities. ISEG also plays a special role on academic and scientific cooperation within the Community of Portuguese Speaking Countries (CPLP). In 2013, Technical University of Lisbon, where ISEG was integrated as one of its Schools, merged with University of Lisbon to found the new Universidade de Lisboa, the greatest university of Portugal and the best positioned in all international rankings. Since then ISEG adopted as international name Lisbon School of Economics & Management. For more information see www.iseg.ulisboa.pt and www.ulisboa.pt.

CESA/CSG

CESA is a research Centre that belongs to CSG/Research in Social Sciences and Management that is hosted by the Lisbon School of Economics and Management (ISEG) of the University of Lisbon (ULisboa). Founded in 1983, its’ research team is composed of ISEG faculty, full time research fellows and faculty from other schools. It is dedicated to the study of economic, social and cultural development in developing countries in Africa, Asia and Latin America, although it places particular emphasis on the study of African Portuguese-speaking countries. Additionally, CESA also promotes research on different theoretical and applied topics in development studies, including globalization and economic integration, in other regions generally or across several regions. In 2015, CSG was object of the international evaluation process of R&D units carried out by the Portuguese national funding agency for science, research and technology (FCT - Foundation for Science and Technology) having been ranked as “Excellent”. For more information see http://csg-iseg.blogspot.pt

WORLD ACADEMY OF ART AND SCIENCE

The World Academy of Art and Science (WAAS) is composed of individual Fellows from diverse cultures, nationalities, and intellectual disciplines, chosen for eminence in art, the natural and social sciences, and the humanities. Established in 1960 by distinguished individuals concerned by the impact of the explosive growth of knowledge, its activities seek to address global issues related to the social consequences and policy implications of knowledge. The Academy serves as a forum for reflective scientists, artists, and scholars to discuss the vital problems of humankind independent of political boundaries. It is a forum where these problems can be discussed objectively, scientifically, globally, and free from vested interests or regional attachments. The WAAS was founded on faith in the power of original and creative ideas to change the world. Its motto is "Leadership in thought that leads to action." The aim of the Academy's founders was to function as "an informal WORLD UNIVERSITY at the highest scientific and ethical level, in which deep human understanding and the fullest sense of responsibility will meet." For more information on WAAS, please look at: www.worldacademy.org

WORLD UNIVERSITY CONSORTIUM

The World University Consortium (WUC) is a non- profit, nongovernmental, international, interdisciplinary, inter-sectoral organization founded in 2013 to promote the development of accessible, affordable, quality higher education for the whole world. WUC is dedicated to a human-centered approach to development that emphasizes the centrality of human capital, human rights, and human welfare. The consortium is open to all types of stakeholders willing to participate in a working alliance to develop effective solutions to the complex global challenges affecting different communities and nations.

UNIVERSITY OF BRASILIA

The University of Brasilia (UnB) was created on April 21,1962 following the ideas of its founders, educator Anísio Teixeira and anthropologist Darcy Ribeiro. The latter became its first president (Rector). The architect Oscar Niemeyer designed its main building, the Central Institute of Sciences (ICC), also known as the "Minhocão". The undergraduate course in Economics was started in 1963, the MSc degree in 1973 and the PhD program in 1997. Over the years the Department of Economics has been committed to teaching and research at the frontier of the discipline. One main characteristic has been its plural vision in its approach to economic theory, and its respect for the different branches that the evolutions of economic ideas have taken. The Department of Economics at UnB has always been classified among the top Institutions in the country by the federal Ministry of Education, and has a national reputation for excellence in teaching and research. For more information on UnB, please look at: http://www.economia.unb.br

As in previous events, the XIII Colloquium presents a set of 21 papers selected by a Special Committee. Also, include 3 Sessions and 4 Panels presented by invited participants.

First Day: 11/05/2016

08:30 – 09:00 Registration

09:00 – 09:15 Opening Session

Welcome: Mário Caldeira, President of ISEG.

Heitor Gurgulino de Souza, President of World Academy of Art & Science and World University Consortium

The XIII International Colloquium: António Mendonça, President of the Organizing Committee and President of CESA.

09:15 – 09:30 Special Speaker

Chair: Maria Rosa Borges

Augusto Santos Silva, Minister of Foreign Affairs.

09:30 – 11:10 | PLENARY SESSION I

Chair: Maria Rosa Borges

Paper 1:The (Un)bearable Cost of the European Public Debt Sustainability. Sofia Vale and Francisco Camões, ISCTE Business School – Instituto Universitário de Lisboa.

Paper 2:The Supremacy of Financial Capital and the Current Crisis. Maria L. Rollemberg Mollo, Departments of Economics, University of Brasilia.

Paper 5: Homoeconomico-politicus, Scientific Consciousness, and the Defense of Fundamental Values in the Context of the Climate Change Crisis. Winston P. Nagan, University of Florida Levin College of Law/ Distinguished Visiting Professor at Al-Farabi Kazakh National University of Kazakhstan, and Megan Weeren, Institute of Human Rights and Peace.

Paper 7:Socioeconomic Challenges and Crisis: Brazilian Illustration and the Search for a New Paradigm. Joanílio R. Teixeira, Department of Economics, University of Brasilia and Rodolfo M. Teixeira, Department of Political Science, UniEuro University.

This session will explore the relationship between economic theories and models and the political, legal, social, technological and commercial factors influencing the functioning of markets to identity the scope for designing and regulating markets in a manner that promotes full employment more equitable income distribution with the context of a market economy. To what extend do our models represent or distort economic reality? Can we conceptualize a market system that more effectively promotes human welfare and well-being?

Paper 12: Towards a Society of Living. Provocations on Economy and Economics by a Layman and Entrepreneur. Carlos Alvarez-Pereira, Innaxis Foundation & Research Institute.

Paper 13:Is it possible to shift the economic system onto a sustainable path and avoid collapse? Graeme Maxton, Secretary General of Club of Rome.

11:20 – 11:40 Coffee Break

11:40 – 13:00 | PANEL B

Subject:Economics and system interdependencies

This session will examine the interdependencies between economies/Economics and the monetary, institutional, political, social, cultural and ecological systems and the implications for the formulation of more a realistic and effective economic theory.

Chair: Mark Swilling

Panelists: Robert Hoffman, Joachim Spangenberg, Seeraj Mohamed

13:00 – 14:30 Lunch

14:30 – 16:30 | PLENARY SESSION V

Chair: Emil Constantinescu

Paper 14:Economic Crisis, European Welfare State Models and Inequality. Carlos O. Claramunt, Department of Applied Economics, University of Valencia.

Paper 15:Domesticating Finance for Pursuing Post-Crisis Growth not only Equality. Dimitrios Kyriakou, European Commission’s Institute for Prospective Technological Studies; Commercial Bank of Greece; New Economic Theory Working Group of WAAS.

Paper 17:Macroeconomic theories of investment and development of a New Economic Theory. Seeraj Mohamed, Department of Economics, University of the Western Cape.

16:30 – 16:50 Coffee Break

16:40 – 18:30 | PANEL C

Subject:Money and Financial Markets as Social Institutions

This session will focus on the role of money in society, the social and institutional framework within which money functions to determine the political, legal, cultural, social, psychological and organizational factors that determine how money and wealth are generated, measured, utilized, multiplied and distributed; the relationship between the monetarized and non-monetarized sectors of economy; and concepts related to different types of capital. What is the purpose of financial markets and how effectively do they fulfill their intended purpose? Can we envision a monetary system that more equitably promotes the welfare and well-being of all?

This session is intended to explore underlying premises on which Economics science (and other social sciences) are based: including assumptions regarding the characteristics of a science, value-based science, interdisciplinarity, transdisciplinarity, the role and validity of models and monetary measurements, objectivity and subjectivity, the evolutionary nature of society, the power of organization and networks, certainty and uncertainty, the multiple levels of social reality that determine economic outcomes, social power, and the role of individuals in society.

OVERVIEW

The World Academy of Art and Science is composed of 730 individual Fellows from diverse cultures, nationalities, and intellectual disciplines, chosen for eminence in art, the natural and social sciences, and the humanities. Established in 1960 by distinguished individuals concerned by the impact of the explosive growth of knowledge, its activities seek to address global issues related to the social consequences and policy implications of knowledge. The Academy serves as a forum for reflective scientists, artists, and scholars to discuss the vital problems of humankind independent of political boundaries or limits, whether spiritual or physical -- a forum where these problems can be discussed objectively, scientifically, globally, and free from vested interests or regional attachments, to arrive at solutions that affirm universal human rights and serve the interests of all humanity. WAAS is founded on faith in the power of original and creative ideas -- Real Ideas with effective power -- to change the world. Its motto is "Leadership in thought that leads to action."

The spirit of the Academy can be expressed in the words of Albert Einstein: "The creations of our mind shall be a blessing and not a curse to mankind." Its Fellows share the ambition (as the Founders said in their 1960 Manifesto) "to rediscover the language of mutual understanding," surmounting differences in tradition, language, and social structure which, unless fused by creative imagination and continuous effort, dissolve the latent human commonwealth in contention and conflict.

The aim of the Academy's founders was to function as "an informal WORLD UNIVERSITY at the highest scientific and ethical level, in which deep human understanding and the fullest sense of responsibility will meet."

MISSION

The World Academy of Art and Science is an association of committed individuals drawn from diverse cultures, nationalities, occupations and intellectual pursuits spanning the arts, humanities and sciences, conscious of the profound social consequences and policy implications of knowledge, and united by a common aspiration to address the urgent challenges and emerging opportunities confronting humanity today. Our mission is to promote cross-disciplinary dialogue generative of original ideas and integrated perspectives that comprehend the root causes and effective remedies for our common problems, while furthering those currents of thought and social movement that affirm the value of human dignity and equitable development. The Academy dedicates itself to the pursuit of creative, catalytic ideas that can provide to present and future generations enlightened leadership in thought that leads to effective action.

HISTORY

The idea of founding an international association for exploring major concerns of humanity in a nongovernmental context grew out of many conversations that took place among leading scientists and intellectuals in the years following World War II. Prominent among this group were people such as Albert Einstein and Robert Oppenheimer who had played a part in the development of the atomic bomb and were deeply concerned about how it and other scientific advances might be used – or misused.

This informal project took a major step forward in 1956, when a meeting – The First International Conference on Science and Human Welfare – was held in Washington, D. C. The organizers were two American scientists: Richard Montgomery Field of Princeton, who had worked for many years as chairman of an international committee on the social values of science; and John A. Fleming, former President of the International Council of Scientific Unions. At the end of the conference, participants agreed to take steps toward the formation of a World Academy, and elected an International Preparatory Committee for that purpose. Its members were: (from France) Pierre Chouard, George Laclavére and G. Le Lionnaise; (from the United Kingdom) Ritchie Calder, H. Munro Fox and Joseph Needham; and (from the United States) Robert Oppenheimer.

The Academy was formally founded (and its first officers elected) in 1960. They were: as President, Lord John Boyd Orr of Scotland; as Vice Presidents, Hermann Joseph Muller of the United States and Hugo Ostvald of Sweden; and, as Secretary General, Hugo Boyko of Israel.

Advisors to the Board

PARTNERS

HOW TO DONATE TO THE ACADEMY

The World Academy is incorporated in the State of California and Fellows elected from 86 different countries. WAAS is recognized by the US Internal Revenue Service as a tax exempt private foundation under section 501(c)(3).

CADMUS JOURNAL

Cadmus is a journal for fresh thinking and new perspectives that integrate knowledge from all fields of science, art and humanities to address real-life issues, inform policy and decision-making, and enhance our collective response to the challenges and opportunities facing the world today.

ERUDITIO E-JOURNAL

Eruditio is the electronic journal of the World Academy of Art & Science. The vision of the Journal complements and enhances the World Academy's focus on global perspectives in the generation of knowledge from all fields of legitimate inquiry.

The Journal also mirrors the World Academy's specific focus and mandate which is to consider the social consequences and policy implications of knowledge in the broadest sense. It is a multidisciplinary forum focused on the social consequences and policy implications of all forms of knowledge on a global basis.

PAPERS BY CATEGORY

BOOKS

The Security & Sustainability Guide

A 250-page “Interim Draft” PDF of The S&S Guide, a project of the World Academy of Art & Science, will be available for limited distribution free of charge. It reflects the critical fact that sustainability and security are both essential and can only be achieved in concert. The Guide is incomplete, but the compilers believe that, even in its current state, many will find it useful for illuminating many of the most serious problems facing humanity under the broad, overlapping categories of “Security” (weapons proliferation, terrorism, cyber-attacks, economic and food insecurity, human rights, peacemaking, crime and corruption, inadequate infrastructure, etc.) and “Sustainability” (climate change, biodiversity loss, pollution, energy, agriculture, population growth, cities, oceans, forests, vulnerability to disasters, green economics and nance, etc.)

Democracy is under siege. Traditional bastions of liberal democracy are faltering. Young democracies are reverting to their authoritarian pasts. Populism, corporatization of the media, fake news, retreat from globalism, oligarchy, corruption and other perils are undermining fairness, effectiveness and truthfulness. Just when it appeared that the world was converging on a universal set of values and standards for governance at the national and international level, fundamental questions are being raised regarding the viability and sustainability of democratic institutions. Recent events raise fundamental questions regarding the institutions of governance and also about the underlying social, psychological, cultural and evolutionary processes that determine how these institutions function.

Is democracy in its current form really the most viable and effective system of governance? Are human beings sufficiently rational and selfless to govern themselves justly and effectively? Is the future of democracy at the national level compatible with the persistence of non-democratic institutions at the international level? By what process has the distribution of social power shifted from army, monarchy, aristocracy to democracy and how is that process likely to evolve further in future? To what extent are the institutional problems confronting democracy today reflections of underlying social, psychological and cultural factors and processes? What proven and potential safeguards and remedies are available to address the failures and insufficiencies of contemporary democracies? Is democracy the best possible system or merely a stage in the evolution of governance toward something more stable, an effective and equitable system?

Mind is humanity's highest developed instrument for seeking knowledge. It is the master tool that we use to comprehend the present, remember the past, and anticipate and plan for the future. From the act of striking two flints together to create fire to combining strings of 1s and 0s to design the code for supercomputers, mind has enabled humanity to create remarkable technologies and organized global institutions. The mind is the unifying foundation on which humanity’s entire social evolution is based. To understand this vital instrument better, the World Academy of Art & Science and World University Consortium have launched a ground-breaking project to explore Mind, Thinking and Creativity. A greater understanding of the nature of mind, its ways of knowing, the limits to thinking and rationality, mind's untapped potential, the workings of creativity and genius are essential for addressing the challenges confronting humanity today.

In April 2016 WAAS and WUC, along with partnering organizations IACP, IUC, DHUC, and MSS organized a four-day roundtable on Mind, Thinking and Creativity 2016 at Dubrovnik, Croatia for to explore fundamental questions. The meeting was attended by experts from different fields of natural and social science, including medicine, neuroscience, engineering, psychology, sociology, economics, law, and philosophy. Video recordings, presentations and papers for the roundtable are available here. The enthusiastic interest generated by the Dubrovnik meeting spurred efforts of WAAS and the World University Consortium to commence work on a on-line course on this subject which is now underway. A report on last year's meeting including videos and presentations was included in the Academy's July 2016 newsletter.

Roundtable 2 -- November 2017 at Dubrovnik

The second roundtable on Mind, Thinking & Creativity is being conducted by the World University Consortium, the World Academy of Art & Science, the Mother's Service Society, Person-Centered Approach Institute, Dag Hammarskjöld University College of International Relations and Diplomacy and the Inter-University Centre from November 6-8, 2017 at Inter-University Centre, Dubrovnik, Croatia.

A Post-Graduate Certificate Course in Human-Centered Economics will be conducted by the World Academy of Art & Science, the World University Consortium, The Mother's Service Society, Person-Centered Approach Institute, Dag Hammarskjöld University College of International Relations and Diplomacy and Inter-University Centre, Dubrovnik, Croatia from Feb 1-Feb 3,2017 at Inter-University Centre, Dubrovnik, Croatia.

The multidimensional challenges confronting humanity today are human-made and can be changed by a change in thought and action. Contemporary economic thought is built on a mind-frame that originated prior to the Industrial Revolution when scarcity of goods in a world of abundant resources was the primary concern, economic growth was considered synonymous with human welfare, and impact of humanity on the environment was completely ignored. Without challenging obvious flaws in existing theory, it will be not be possible to significantly alter current policies and practices.

The overall aim of the course is to (a) demonstrate why mainstream neo-classical economic theory is inappropriate for dealing with the global challenges of the c.21st, and (b) explore alternative approaches for achieving ecologically sustainable, human-centered development and welfare for all.

This course will present the findings of a five year research program of the World Academy of Art & Science and the on-going work of the New Economic Theory working group. It will harness the best available ideas and practices on human-centred, sustainable economy to create informative, authoritative and compelling educational and communication tools with the power to challenge and alter university level education in Economics, public policy, business decisions, media coverage and general public opinion regarding how the world economy should and can work for the betterment of all humanity.

A Post-Graduate Certificate Course in Social Power, Empowerment & Social Evolution will be conducted by the World Academy of Art & Science, the World University Consortium, The Mother's Service Society, Person-Centered Approach Institute, Dag Hammarskjöld University College of International Relations and Diplomacy and Inter-University Centre, Dubrovnik, Croatia from Oct 31-Nov 4, 2016 at Inter-University Centre, Dubrovnik, Croatia.

Humanity lives in a time of unprecedented capacity for accomplishment in every field of social life. Never before have we possessed power of this magnitude for good or for evil. Never before has power been so widely distributed within society. Democracy, law, human rights, science, technology, education and many other forms of social organization have generated immense power. Society governs the possession and exercise of this power through formal structures and institutions, such as law and human rights, as well as through both legitimate and extra-legal informal mechanisms including status, wealth, popularity, political influence and corruption. The distribution of power in its various forms powerfully impacts on the functioning of the economy, political system, educational, scientific, religious and and other social institutions, and on the overall productivity, strength, integrity, harmony and welfare of society. This transdisciplinary course will explore the sources, expressions, determinants and consequences of the creation, distribution and exercise of social power in its various expressions in politics, economy, society and culture and its consequences for the evolution of society as a whole.

Mind is humanity’s highest developed instrument for seeking knowledge. It is an instrument with remarkable capabilities and characteristic limitations. It is ironic that we invest so little time in education and scientific endeavor trying to understand the nature of mental knowledge and the character of the mental processes by which we arrive at it. The objective of this course is to arrive at an understanding of the inherent limits to rationality and mental ways of knowing, as well as the extraordinary creative and intuitive processes by which mind transcends those limitations and tends toward genius.

Thinking is the activity by which mind associates, organizes, coordinates and integrates information, thoughts and ideas. Creative thinking is the process by which mind extends the boundaries of existing thought and knowledge to connect, reconcile and unify previously unconnected or contradictory perspectives. This course will explore the characteristics of mental knowledge and thought processes, types of thinking, the character of rational thought, the mental and social construction of knowledge, deep thinking, creativity and genius. Rather than focus on abstract philosophical concepts, it will apply this knowledge to understand both the sources of humanity’s prolific mental creativity, the characteristic problems it confronts due to irresolvable conflicts and contradictions between mental perspectives, and their resolution in different fields of natural and social science, public policy, collective and individual behavior.

A Post-Graduate Certificate Course in Future Education was conducted by the World Academy of Art & Science, the World University Consortium, The Mother's Service Society, Person-Centered Approach Institute, Dag Hammarskjöld University College of International Relations and Diplomacy and Inter-University Centre, Dubrovnik, Croatia from September 21-23, 2015 at Inter-University Centre, Dubrovnik, Croatia.

Education is our best hope for a better future. Emergence of a new paradigm in education can radically abridge the time required for humanity to address critical issues related to economy, governance, ecology and life-style. Education is the best known instrument for ensuring universal human rights, promoting democracy, enhancing productivity and protecting the environment.There is urgent need to evolve a new paradigm in education appropriate to the needs of the 21st century. Closing the gap between social needs and educational capabilities is essential for addressing pressing challenges confronting humanity today. A review of education today makes evident that there is enormous scope for improving and developing the educational system. Whatever its current limitations in terms of inadequate coverage, quality and content, the means and potential exist for dramatically enhancing humanity’s individual and collective performance in virtually all spheres of our social existence by realistic, achievable improvements in education. We need a new paradigm in education capable of more fully and effectively developing the latent capacities of our youth.

A Post-Graduate Certificate Course in Essence of Effective Leadership was conducted by the World Academy of Art & Science, the World University Consortium, The Mother's Service Society, Person-Centered Approach Institute, Dag Hammarskjöld University College of International Relations and Diplomacy and Inter-University Centre, Dubrovnik, Croatia from March 31 to April 3, 2015 at Inter-University Centre, Dubrovnik, Croatia.

This course explored the characteristics common to leaders in business, politics, civil society, science, arts, professions and education and examined methods by which these characteristics can be consciously developed by individuals. The presentations consist of theory, practical strategies, and a wide range of examples drawn from biography, history, management, and literature from movies illustrating the principles under discussion. Apart from the presentations, our faculty interacted with participants to bring home the theoretical significance and practical relevance of the material.

The Individual is the catalyst of all social progress, the source of creativity, innovation, new ideas and new initiatives. The individual is the genetic source of human diversity. The entrepreneur, inventor, social reformer, revolutionary leader, original thinker and creative artist are a few of individuality's expressions. Yet how little we understand about the characteristics of true individuality, the ways in which it expresses, the means for developing it, and the means for realizing real individuality in one’s own life.

History demonstrates that individuals have the power to change the world. This course explored the relationship between personality and accomplishment. It examined the role of Individuality and Values in personal achievement, growth of personality and social progress drawing on evidence from Management Science, History, Psychology and Literature. It explored the relationship between creative individuals and society searching for insights into the principles and process that govern successful human initiatives and their consequences in various fields of life.

The course was intended for both students and practitioners in all fields interested in advancing theoretical understanding and practical approaches to promote the development of entrepreneurship, individuality, creativity, original thinking and other forms of social innovation. It explored the role of the individual in development of society, elucidated the characteristics of true individuals, the source of their amazing power for accomplishment and the process by which they act as catalysts of social innovation. While the presentation was academic, the objective was to impart original insights and practical knowledge for personal growth and individuation.

Today humanity is confronted by a plethora of serious challenges – political, economic, legal, social, cultural, psychological and ecological. These challenges are complex, interrelated, and global in reach. They are a reflection of the inadequacy of current institutions and policies and at a deeper level the inadequacy of current knowledge. They defy comprehension and resolution based on the prevailing principles of social science. The specialized knowledge developed by separate disciplines is inadequate to deal with the increasingly complex interdependencies of the real world. Knowledge needs to evolve to keep pace with the evolution of society.

The evolution of a complex, highly integrated global society necessitates the development of a more comprehensive and integrated science of society. The division into various specialized fields has been a useful mental strategy for the development of the social sciences, leading to significant advances in all fields – knowledge which needs to be preserved and enhanced by future developments. Yet it is increasingly evident that a more comprehensive and integrated approach is now required. As society evolves, its different functions develop greater complexity. At the same time they become more closely and complexly interlinked and interdependent on one another. Economy today is highly dependent on the political system and laws governing the distribution and enforcement of power in society, legal concepts regarding ownership of property and human rights, public institutions responsible for the creation and management of money, rules for commerce between nations, public policies influencing income and wealth distribution, processes that determine collective decision-making, public investment in education and training, and social expectations regarding economy and the future, etc. A recent announcement by the White House of an ‘intention’ to examine measures to discourage shifting of US firms to tax havens overseas resulted in a 10% fall in market value for several large firms.

Strategic Planning Committee Program Framework

Being a world academy composed of members drawn from the arts, social and physical sciences, humanities, business, public administration and civil society poses fundamental questions. How can WAAS distinguish itself from other national and regional academies? Is there really a common meeting point between art and science? Is there a unique contribution that WAAS can make to the world’s knowledge?

At the New Delhi General Assembly, Fellows explored facets of a new program framework developed by the Strategic Planning Committee (SPC) which seeks to answer these questions in the affirmative. Rather than distinguish itself by specializing on a particular set of disciplines, issues or geographic area, the framework is an attempt to formulate a comprehensive approach and integrated perspective of knowledge inclusive of all disciplinary perspectives and applicable to social problems and opporunities in all fields.

The core of the framework is a human-centered conception of what constitutes reliable knowing, a question posed to the SPC by Ruben Nelson. In his presentation to the GA, Garry Jacobs explained how this conception applies to WAAS’s projects on new economic theory, individuality and limits to rationality. Pushpa Bhargava pointed out that a human centered perspective naturally incorporates ecology, since the survival and full development of humanity depends on its capacity to evolve in harmony with the environment.

New Paradigm Program

Scope: The world confronts multiple crises, each of which resists current efforts at resolution and appears intractable. The environmental crisis of climate change occupied the center stage in the mid-2000s. Fears of nuclear weapons proliferation, which had subsided into complacency in the years following the end of the Cold War, suddenly surfaced with renewed intensity when Korea tested nuclear weapons and long range missiles and news surfaced of Iran’s secret nuclear weapons program in 2007.

Then the subprime mortgage crisis exploded in late 2008, spreading havoc through financial markets across the world. It was followed quickly by a sudden and substantial slowing of economic growth in OECD countries, rising levels of unemployment and most recently a crisis of excessive government debt.

In spite of the enormous attention being given to each of these issues by specialists nationally and internationally, progress on all fronts appears to be nearly at a standstill or at least far too slow to meet pressing human concerns. The times we live in are a Wild West of globalization and the unbridled, unregulated expansion of international activities threatens to destabilize and undermine the remarkable progress of the previous five decades.

This project is predicated on the assumption that each of these problems defies solution because they all represent problems that transcend the sovereign powers of the nation-state. None of them can be fully and satisfactorily addressed by nation-states acting individually. All are symptoms of the evolution of world society to a stage where concerted and coordinated global action is required to meet the collective needs of humanity for peace, security, financial stability, economic welfare and sustainable development. This project has been conceived to address the underlying and interrelated issues that all these challenges pose to global governance.

World University Consortium

The mission of World University Consortium is to evolve and promote development of accessible, affordable, quality higher education worldwide based on a human-centered approach that shifts the emphasis from specialized expertise to contextualized knowledge within a trans-disciplinary conceptual framework reflecting the complexity and integration of the real world, from teaching mastery of a field of knowledge to learning that enhances the capacity of students to think and discover knowledge for themselves, from theoretical mastery to acquisition of knowledge, skills and values relevant to each individual’s personal development and career – an educational system better suited to develop the full potentials of social personality and individuality for productive engagement, social welfare and psychological well-being. The objectives are:

Identify global best practices and develop effective global models and strategies to improve accessibility, affordability, quality, innovation and relevance in higher education appropriate to the needs of the 21st century.

Develop innovative, open learning systems and more effective models that extend the reach of quality higher education to people of all age groups globally.

Explore new models of online and hybrid delivery systems designed to facilitate learning through teacher-student and student-student interaction.

Enhance the learning process through research, development and application of advanced instruments for measurement and evaluation of educational processes.

NEW ECONOMIC THEORY

A multidisciplinary group from the World Academy of Art & Science and the Club of Rome are leading a quest for a new human-centered theory of economics that reflects recent changes resulting from the emergence of a service-based economy, globalization, rising social aspirations and changing values, and is integrated with political, social, ecological, technological, and cultural factors from which it is inseparable.

TRANS-DISCIPLINARY DIALOGUE ON MIND, THINKING AND CREATIVITY

Mind is humanity’s highest developed instrument for seeking knowledge. It is an instrument with remarkable capabilities and characteristic limitations. It is ironic that we invest so little time in education and scientific endeavor trying to understand the nature of mental knowledge and the character of the mental processes by which we arrive at it.

The objective of this project is to arrive at an understanding of the inherent limits to rationality and mental ways of knowing, as well as the extraordinary creative and intuitive processes by which mind transcends those limitations and tends toward genius.

PROGRAM ON GLOBAL EMPLOYMENT CHALLENGE

Access to employment is the most essential requirement for providing economic security to the world’s burgeoning population.

This interdisciplinary dialogue explores theoretical and practical aspects of the global employment challenge, including its demographic, economic, legal, political, psychological dimensions as well as linkages with the international financial crisis, social stability, and terrorism.

EVOLUTION OF INDIVIDUALITY

Individuality is the crown of human evolution and the catalyst for social progress, yet there are very different conceptions of what constitutes true individuality, the relationship between the individual and society, and whether humanity is inevitably evolving toward higher levels of individuality.

This project will explore the essential nature of individuality, the social and cultural factors that foster it, its role in social development, its myriad expressions in the original thinker, creative artist, political leader, entrepreneur, inventor and social innovator, and the means available to society to foster it.

GLOBAL RULE OF LAW

The evolution of international law and human rights represent crucial threads in the progressive development of global rule of law.

This project will explore the relationship between the social, political and legal dimensions of global rule of law in an effort to frame the boundaries of a wider approach to the evolution of global governance. Emphasis will be place to re-examining the concept of national sovereignty and the common rights of humanity in an increasingly globalized world.

NEW SCIENCES

In 2013 WAAS launched a project to explore important developments in recently emerging fields of science, with e-conferences on the Science of Networks and the Science of Complexity. The project involves an application of concepts and tools from the new sciences relevant to address the global challenges confronting humanity today and to the evolution of a transdisciplinary science of society.

PROGRAM ON ABOLITION OF NUCLEAR WEAPONS

The devastating consequences of nuclear war and the potential destructive applications of science and technology were paramount concerns among Albert Einstein, Bertrand Russell, Robert Oppenheimer, Joseph Rotblat and others which led to the founding of the World Academy in 1960.

Nuclear disarmament is a sine qua non for effectively addressing other issues of global important – terrorism, financial stability, unemployment, poverty, climate change, democratization of the UN and other aspects of global governance. In recent years, the Academy has conducted numerous conferences, seminars and workshops and collaborating with other organizations in an effort to promote concrete steps toward immediate and total global nuclear disarmament.

The Security & Sustainability Guide

A 250-page “Interim Draft” PDF of The S&S Guide, a project of the World Academy of Art & Science, will be available for limited distribution free of charge. It reflects the critical fact that sustainability and security are both essential and can only be achieved in concert. The Guide is incomplete, but the compilers believe that, even in its current state, many will find it useful for illuminating many of the most serious problems facing humanity under the broad, overlapping categories of “Security” (weapons proliferation, terrorism, cyber-attacks, economic and food insecurity, human rights, peacemaking, crime and corruption, inadequate infrastructure, etc.) and “Sustainability” (climate change, biodiversity loss, pollution, energy, agriculture, population growth, cities, oceans, forests, vulnerability to disasters, green economics and nance, etc.)